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Bashkortostan signed agreement with AFK “System”

Republic of Bashkortostan signed the cooperation agreement with JSC Financial Corporation (AFK) “System”. This large corporation declared the acquisition of Bashkir fuel-energy complex controlling stock.

The General Cooperation Agreement is signed by President RB Murtaza Rakhimov and by President of AFK “System” Vladimir Evtushenkov.

The agreement is directed to efficient and mutually beneficial cooperation between the Republic and the corporation and called to make favorable conditions for development of economics and social sphere RB. The main directions of cooperation, indicated in the agreement are fuel-energy complex, education, medicine, transport, housing-communal services, security systems, telecommunications, finances, tourism and trade.

In opinion of President RB the agreement, signed today, will become the document, reflecting economic and social interests of both sides.

President of AFK “System” Vladimir Evtushenkov said AFK “System” always fulfilled its obligations. “The more we work here the better we understand that Bashkortostan is one of the most successful regions of the country and we are going to augment the economic potential RB” – he said. The term of the agreement signed is 45 years. Means will be first of all directed to modernization of fuel-energy complex enterprises because the main task of this branch in the Republic is to increase the depth of oil processing up to 92-95%, as President RB mentioned.